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2014 (11) TMI 803 - HC - Income TaxUndisclosed income deleted - Return filed and available on record - Whether the Tribunal is right in deleting the addition as undisclosed income of the assessee received from M/s. Patira Packaging on the ground that the assessee had filed return for three AYs and the returns were on the record of the Income Tax Department and the income cannot be treated as undisclosed income of the assessee in view of the provisions of Section 158BB – Held that:- The Tribunal has not committed any error while coming to the conclusion that the income representing their shares from the partnership firm cannot be treated as undisclosed incomes of the assessees - the intention of the assessees is clearly reflected in so much as she had already filed the return before the date of search - assessee filed their returns, though beyond the due date specified u/s 139(1) of the Act, but before the date of search on 08.09.1995 - The returns of the income of the assessees were already on the records of the department before the date of search and it cannot be said that the assessees tried not to disclose their incomes from the partnership firm - when section 158BB(3) is read with section 158B(b), which defines undisclosed income, for income to be considered as disclosed income, it should have been disclosed in the return filed by the assessees before the search or requisition – the order of the Tribunal is upheld – Decided against revenue.
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